Hi,

I have a buget of 50 to 55 lakhs and am looking for a 2/3 BHK with a 3 to 4 year horizon. I have decided it as an investment. But could end up using it for 1 to 2 years after which I might sell it.

As of now I have chosen Raheja Navodaya 2BHK unit BSP of 3000. Seniors kindly let me know if this is the right decision for me.The builder says they will hand it over in 2 year time at max.

is there any other sector or propoerty in Gurgaon where I can invest for better returns.
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    Originally Posted by Hellbent
    Hi,

    I have a buget of 50 to 55 lakhs and am looking for a 2/3 BHK with a 3 to 4 year horizon. I have decided it as an investment. But could end up using it for 1 to 2 years after which I might sell it.

    As of now I have chosen Raheja Navodaya 2BHK unit BSP of 3000. Seniors kindly let me know if this is the right decision for me.The builder says they will hand it over in 2 year time at max.

    is there any other sector or propoerty in Gurgaon where I can invest for better returns.


    Hi
    Greetings

    I heard Raheja as a builder is a good choice from point of view of timely delivery, quality, customer services.. However low on value for money at that price. I think still it is a good investment with a "peace of mind" component.

    check link for similar projects on dway if interested
    https://spreadsheets.google.com/ccc?key=0Ahk_8tfSUql8dDloWnl4bXFvSjJ6TTB0Uk8taFp2bXc&hl=en&authkey=CKjfg6cD#gid=2

    Hope this helps

    Cheers
    CommentQuote
  • Originally Posted by BlessU
    Hi
    Greetings

    I heard Raheja as a builder is a good choice from point of view of timely delivery, quality, customer services.. However low on value for money at that price. I think still it is a good investment with a "peace of mind" component.

    check link for similar projects on dway if interested
    https://spreadsheets.google.com/ccc?key=0Ahk_8tfSUql8dDloWnl4bXFvSjJ6TTB0Uk8taFp2bXc&hl=en&authkey=CKjfg6cD#gid=2

    Hope this helps

    Cheers


    Thanks for the help. I feel you think the price is on the higher side. But yeah I also want the 'peace of mind' as you said. And Navodaya is almost 60% complete (Accoring to the builder). I belive am paying close to 400 rupees extra per square feet. What is your take on that.

    Can you suggest some other projects anywhere in gurgaon that are more value for money. Thanks for tyhe hel. really appreciate.
    CommentQuote
    1 Comments
    • PankajJuneja2 years ago
      He is not at all good and peace of mind is zero...Raheja is a master of false commitments...Beware of this builder....
  • Floor plans in Navodaya are not as per normal standards. Everyone would not be intrested in such spacious 2 BHK apartments at the cost of 3BHK. Whereas Sampada has standard floor plans. If you are looking only for investment of 1 to 2 years then prefer to look for a size which has maximum demand in market. Do consider this fact as well.



    Originally Posted by Hellbent
    Hi,

    I have a buget of 50 to 55 lakhs and am looking for a 2/3 BHK with a 3 to 4 year horizon. I have decided it as an investment. But could end up using it for 1 to 2 years after which I might sell it.

    As of now I have chosen Raheja Navodaya 2BHK unit BSP of 3000. Seniors kindly let me know if this is the right decision for me.The builder says they will hand it over in 2 year time at max.

    is there any other sector or propoerty in Gurgaon where I can invest for better returns.
    CommentQuote
  • peace of mind

    Originally Posted by Hellbent
    Thanks for the help. I feel you think the price is on the higher side. But yeah I also want the 'peace of mind' as you said. And Navodaya is almost 60% complete (Accoring to the builder). I belive am paying close to 400 rupees extra per square feet. What is your take on that.

    Can you suggest some other projects anywhere in gurgaon that are more value for money. Thanks for tyhe hel. really appreciate.


    Hi

    Greetings

    Then go by your conviction and god blessU

    Cheers
    CommentQuote
  • Raheja Navodaya Sec 92- Penalty Legal Action, Delayed!!

    Hi
    I booked flat in Raheja NAVODAYA, in Sector-92-95 Gurgaon in Nov, 2007 and paid 90% of payment within 3 yrs as builder created the walls and floors and showed to us that 14 floors are ready and took installments as per construction link plan.

    They were supposed to deliver it by May 2011. Surprisingly, they completed 90% by May, 2011 and then delayed the construction/finishing and we may not get it by May, 2013. And they started SAMPADA in same year, GOD knows what will happen to their buyers.

    And when we ask Raheja Navodaya officials for Penalty as per agreement, they told they wont give a single penny as penalty as basic infrastructure - road, sewrage, water lines is not ready by govt. In that case, agreement clause is not valid and they are not liable to pay any penalty even when they delay it by 3 yrs and even more.

    Raheja Navaoday always promised for quality and timely delivery. Quality we cannot know now but timely delivery, they are pathetic. We are feeling cheated and helpless as we dont know when we will get our flat where we invested our hard-earned money.

    Can anyone suggest what we can do to get the flat on time, getting penalty and also getting interest as builder took 90% of payment in 3 yrs and may deliver flat in 5-6 yrs. Only Builder knows when that time will come to deliver it.
    CommentQuote
  • what if they give possession today? will anyone will be living there? is the area safe and livable now? What benefit do you foresee in having possession if there is no renting income or self use possibility...?

    The real culprit is the govt inaction in creating decent infrastructure even after charging high EDC/IDC, taxes, service tax, vat and what not. and the speculators like yourself in the gurgaon market.. putting money in places where there is no infra, no habitation, just pure speculation..
    CommentQuote
  • Originally Posted by humble_guy
    what if they give possession today? will anyone will be living there? is the area safe and livable now?


    Why not builder provides security,doesn't he? You can not justify delay citing such excuses. Buyer lives or not, it is buyer prerogative.
    CommentQuote
  • the area is not livable I agree, but when we look on a new project, raheja builder showed by 3 yrs, everything will be ready, infra-strucutre will be in place. We are paying everything to the builder, its the builder duty to get it done by govt.But see who is the sufferer, we end user, who gave 90% of money in 3 yrs and now builder is saying they will give it in 5-6 yrs with no penalty.

    And I think this builder is doing or will do the same in all new projects and will earn crore of rupees. and even then won the best builder awards.
    who is the one who has got the maximum benefits, its Raheja Builder, who are using this money for other projects and by putting blame on govt infra-structure, keep the end users frustrated. so, in real estate, its end user who gives money and who loses.
    atleast we should file cases against them and get the justice, though in long run, but it will benefit all end users,
    CommentQuote
  • CommentQuote
  • Delay due to non existent infrastructure

    Hi
    Greetings

    All the builder has done by saying that he will not pay penalty because govt did not deliver INFRA.. Here it is a business principle being applied which says "blame it on the rain". The contract or service agreement does not picture govt in the agreement unless clearly mentioned.. Check you BBA and consultant a good lawyer.. I think, even if non performance by govt is mentioned in the BBA, this can be challenged and possibly court can enforce penalty for such delay..

    These disputes and differences are totally discriminatory towards the customer while the builder is insulated through the BBA and has already claimed 90-95% of the payment while spent only 30% as cost/input and diverted funds for expansion of other projects.. Only when a Regulatory Authority comes in place can such issues find a resolution.. Do take some time to support the Real Estate Regulation Bill which is being resisted by builders from becoming an ACT
    https://docs.google.com/spreadsheet/viewform?pli=1&formkey=dGxWN2VRZGdva1hmaC1UVklMRE5hVEE6MQ#gid=0

    (Google sign in Required)

    Cheers
    CommentQuote
  • force majeure clause can be cited by builder for not delivering on time. you will have to make the huda also a respondent if you want litigation.form a small group with other sufferers and then take collective action.that way the courts respond better.
    CommentQuote
  • It is very aptly said that builder should be held responsible to some extent at least. They should pressurize HUDA's concerned departments for getting the work done. Moreover, when they distribute there brochures, why don't they state all these facts? Why do they show very rosy pictures?
    Is it ethical to build the superstructure very quickly in that case because the payment is mostly linked with it?
    If the builder knows it that the basic facilities will not be ready within the stipulated time, then in that case he has no right to demand money from buyers too.
    CommentQuote
  • One Question

    How come Raheja is saying that they cannot offer possession due to lack of infra when SARE Crescent Park in the adjascent plot already issued possession letters to Phase1?
    CommentQuote
  • Originally Posted by navodbuyer
    Hi
    I booked flat in Raheja NAVODAYA, in Sector-92-95 Gurgaon in Nov, 2007 and paid 90% of payment within 3 yrs as builder created the walls and floors and showed to us that 14 floors are ready and took installments as per construction link plan.

    They were supposed to deliver it by May 2011. Surprisingly, they completed 90% by May, 2011 and then delayed the construction/finishing and we may not get it by May, 2013. And they started SAMPADA in same year, GOD knows what will happen to their buyers.

    And when we ask Raheja Navodaya officials for Penalty as per agreement, they told they wont give a single penny as penalty as basic infrastructure - road, sewrage, water lines is not ready by govt. In that case, agreement clause is not valid and they are not liable to pay any penalty even when they delay it by 3 yrs and even more.

    Raheja Navaoday always promised for quality and timely delivery. Quality we cannot know now but timely delivery, they are pathetic. We are feeling cheated and helpless as we dont know when we will get our flat where we invested our hard-earned money.

    Can anyone suggest what we can do to get the flat on time, getting penalty and also getting interest as builder took 90% of payment in 3 yrs and may deliver flat in 5-6 yrs. Only Builder knows when that time will come to deliver it.

    Don't blame Raheja as they are above average builders. Any delay of 2 years is not considered delay any more because it is treated as obious. Delay beyond 3-5 years , or scraping of projects is generally a worry. 90% projects which started in 2008 have not delivered so far and many will not deliver in the next 2 years . Today the average life cycle of a project is 7-8 years although the builder promises to deliver in 3-4 year
    CommentQuote
  • Investors and buyers are very happy to see that the structure of project is coming fast. With the structure all the money also comes in the builders pocket. By spending 15-20% the builder easily takes 95% by speedily completing struture. After this the builder completely looses interest in the current project and starts launching 4-5 fresh projects with the collected money. This is like a MLM game - rob peter and pay paul

    Possession ? WTF is possession?? This is what the builder tells you after taking 95% money.
    CommentQuote